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AML & Compliance · 7 answers

Am I a DNFBP?

You are if your business is one of the designated categories: auditors and accountants, lawyers and notaries, company and trust service providers, real estate brokers and agents, or dealers in precious metals and stones. Company formation agents and corporate service providers are captured. If your activity sits close to the line, tell us the wording on your trade licence and we will give you a straight answer.

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What is goAML and when must I register?

goAML is the UAE Financial Intelligence Unit's reporting platform. Registration is mandatory for DNFBPs, must be renewed annually, and is a precondition for filing suspicious transaction reports. Failure to register carries penalties starting at AED 50,000.

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What is UBO and how often do I file?

The Ultimate Beneficial Owner register records the natural persons who ultimately own or control the company — generally at 25% ownership or through control by other means. It must be maintained and filed with your licensing authority, and any change reported within fifteen days. Penalties for non-disclosure or false information start at AED 50,000.

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Does Economic Substance still apply to me?

ESR applies to entities carrying on specified relevant activities — distribution and service centres, headquarters, holding companies, intellectual property, shipping, banking, insurance, fund management and leasing among them. Many businesses file notifications they do not need to, and some skip reports they do. We assess it properly rather than filing defensively.

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Do I need a compliance officer?

DNFBPs must appoint one, and the appointment has to be a real one — a named individual with the authority and the training to act. For smaller firms this is usually an existing senior employee. We support the appointment, write the role documentation and train the person into it.

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Can you handle my trade licence renewal too?

Yes. Licence renewal sits on the same compliance calendar as everything else, and a lapsed licence blocks bank transactions, visa processing and filings across the board. We track the date and manage the renewal.

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What is the deadline to update my UBO register?

Within fifteen days of any change to the ultimate beneficial ownership. Penalties for non-disclosure or false information start at AED 50,000.

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Audit · 7 answers

Does my company need an audit?

Mainland LLCs are generally required to maintain audited accounts, and most free zones require audited statements to be filed for licence renewal — DMCC, JAFZA, DIFC and ADGM among them. Corporate tax adds a requirement above the relevant revenue threshold and for anyone claiming Qualifying Free Zone Person status. If you are unsure, tell us your licensing authority and we will confirm it.

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Do you sign the audit report?

The statutory audit opinion is signed by a firm licensed to audit in your jurisdiction. Our work is the internal audit programme, the preparation of the audit file, and full management of the external audit process. Where you need an auditor we will introduce licensed firms and manage the appointment.

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When is my audited report due?

It depends on the authority. DMCC allows 180 days from the financial year end. ADGM allows nine months for private companies. DIFC ties filing to licence renewal. Mainland requirements vary by activity. Missing it risks penalties from AED 5,000 to AED 50,000 and, in some zones, suspension of services.

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What will the auditor ask me for?

Bank confirmations and statements, the general ledger and trial balance, sales and purchase invoices on a sample basis, the fixed asset register, inventory count sheets, payroll records, loan and lease agreements, related-party schedules and board resolutions. We assemble all of it in advance.

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What is the difference between internal and external audit?

The external audit is a statutory opinion on whether the financial statements give a true and fair view, addressed to shareholders. Internal audit is a management tool: it examines whether controls work, whether processes are being followed, and where the business is exposed. One is compliance; the other is protection.

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We had findings in last year's management letter. Can you fix them?

That is a large part of this work. Findings are usually control gaps — no segregation of duties on payments, no stock count procedure, no approval threshold on purchases. We design the control, implement it, document it, and test that it held before the next audit.

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When are audited financial statements due in DMCC?

Within 180 days of the financial year end. ADGM allows nine months for private companies. DIFC ties filing to licence renewal. Late filing penalties across the free zones run from AED 5,000 to AED 50,000, with service suspension available as an escalation.

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Banking · 6 answers

How long does it take to open a corporate bank account?

Two to six weeks for a straightforward UAE company with a clean structure and a complete file. Offshore shareholders, multiple layers of ownership, or activities the bank treats as higher risk extend it considerably. The single biggest variable is whether the file is complete when it is first submitted.

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Why do banks reject applications?

Incomplete or inconsistent documentation, a business activity on the trade licence that does not match what the application describes, an unclear source of funds, an opaque ownership chain, or a transaction profile the bank cannot reconcile with the business model. Commercial viability is rarely the stated reason.

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Is there a minimum balance requirement?

Most UAE banks impose an average minimum balance on corporate accounts, and it varies widely by bank and account type. Falling below it triggers monthly charges rather than closure. We factor this into the bank recommendation, because a low-fee account with a high minimum balance is not cheap for a young company.

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Which banks do you work with?

We prepare applications for the major UAE commercial banks and several digital business banking providers. We hold no exclusive arrangement and receive no introducer commission that would bias the recommendation — the choice is driven by your activity, ownership and volumes.

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Can you guarantee my account will be approved?

No, and neither can anyone else. The decision sits with the bank's compliance function. What we can do is remove the reasons files get rejected, and apply to the banks whose risk appetite matches your profile rather than submitting the same application everywhere.

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What is invoice discounting?

A facility that advances a proportion of your unpaid customer invoices, releasing working capital before the customer pays. It is priced on the credit quality of your customers rather than your own balance sheet, which makes it available to growing companies that would not yet qualify for a term loan. Receivables credit insurance often sits alongside it.

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Bookkeeping · 7 answers

How far behind can you take on?

We have rebuilt ledgers four years out of date. The work is mechanical: bank statements are the spine, invoices and bills are matched against them, and gaps are queried. What matters is that the underlying documents still exist. If they do not, we reconstruct from bank data and disclose the basis used.

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Do you need access to my bank account?

Read-only access or PDF statements. We never need transaction rights, and we will not ask for them. Most clients set up a view-only user or simply email statements monthly.

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Which accounting software do you work in?

Zoho Books, QuickBooks, Xero, Tally, Sage, Odoo, SAP, Oracle and Microsoft Dynamics are all in regular use. If you have no system yet we will recommend one that fits your volume and your 2027 e-invoicing obligation.

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When do I get my monthly accounts?

By the tenth working day of the following month, provided your bank statements and any missing documents reach us by the third. The date is written into the engagement letter.

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Do I need audited financial statements?

It depends on your revenue and your licensing authority. Free zones including DMCC require audited accounts to be filed — DMCC within 180 days of year end — and corporate tax requires audited statements above the relevant revenue threshold. We prepare the file and liaise with the audit firm; the audit report itself is signed by a licensed auditor.

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Is my financial data secure?

Records are held in your own accounting platform under your ownership, and documents move through controlled channels. We sign confidentiality terms as part of the engagement letter. We do not store Emirates ID scans or banking credentials in email.

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What is the difference between bookkeeping and accounting?

Bookkeeping is the recording: entering transactions, reconciling the bank, maintaining ledgers. Accounting is what happens on top: preparing financial statements, applying IFRS judgement, computing tax, and interpreting the result. A business needs both, and the failure mode is having the first without the second.

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CFO & Advisory · 6 answers

How is this different from bookkeeping?

Bookkeeping records the past accurately. This work interrogates it and projects forward. A bookkeeper will tell you revenue was AED 1.2 million last month. This service tells you which third of that revenue is losing money, and what happens to cash in week nine if you win the contract you are bidding for.

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Do I have to move my bookkeeping to you?

No. The advisory retainer works alongside your existing bookkeeper or in-house accountant. It works better when we control the underlying data quality, and we will say so if the records are not good enough to build on — but it is not a condition.

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How much of your time do I get?

A scheduled monthly session, the reporting pack, and reasonable access in between. Discrete projects — a funding round, a facility application, a due diligence process — are scoped and quoted separately because they consume weeks rather than hours.

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Will you attend board or investor meetings?

Yes, in person in the UAE or remotely. For companies with external shareholders this is usually where the retainer earns its cost, because the questions get asked in the room rather than in an email afterwards.

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Can you help us raise money?

We prepare what a lender or investor asks for: historical accounts that reconcile, a model with defensible assumptions, and answers to the questions in the data room. We are not a licensed placement agent and we do not introduce investors for a success fee.

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At what size does this make sense?

Below roughly AED 3 million in revenue, the Growth package with management accounts usually covers what a founder needs. Between AED 5 million and AED 30 million, with staff and stock and a bank facility in play, the advisory work generally pays for itself in one pricing or working-capital decision.

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Corporate Tax · 8 answers

Do I have to register if my company makes no profit?

Yes. Registration and filing are obligations that sit independently of whether tax is payable. A company with nil income still registers and still files. The 0% band up to AED 375,000 reduces the tax to zero; it does not remove the return.

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Do free zone companies pay corporate tax?

Free zone entities must register. A Qualifying Free Zone Person can apply 0% to qualifying income, but that status has to be earned and maintained: adequate substance in the zone, audited financial statements prepared under IFRS, transfer pricing documentation, and non-qualifying revenue kept below the de minimis thresholds. Fail any of those and the 9% rate applies to all income.

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What is Small Business Relief and do I qualify?

Where revenue is AED 3 million or below in the relevant and all previous tax periods, a resident taxable person can elect to be treated as having no taxable income. The election is made in the return, it cannot be reversed, and it is available only for tax periods ending on or before 31 December 2029, extended from 2026 by Ministerial Decision 131 of 2026. Electing it also forfeits the ability to carry forward tax losses from that period, which is why it is worth modelling rather than assuming.

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When exactly is my return due?

Nine months after the last day of your financial year. A 31 December 2025 year end means 30 September 2026. A 31 March 2026 year end means 31 December 2026. The same date applies to the payment, not just the filing.

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I have not registered yet. How bad is it?

Registration deadlines were staggered by licence issue date, and natural persons whose 2025 UAE turnover exceeded AED 1 million had to register by 31 March 2026. Late registration carries an administrative penalty. It does not compound the way unpaid tax does, so the practical answer is to register now and deal with the penalty rather than let filing deadlines accumulate on top of it.

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Do I need audited accounts to file?

Audited financial statements are required above the relevant revenue threshold and for any entity claiming Qualifying Free Zone Person status. Below those thresholds, properly prepared financial statements are sufficient — but they must be capable of supporting the figures in the return if the FTA asks.

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What is the corporate tax rate in the UAE?

0% on taxable income up to AED 375,000 and 9% above that. Qualifying Free Zone Persons can apply 0% to qualifying income where every condition is met. Large multinationals within scope of the global minimum tax rules are treated separately.

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How long must I keep my accounting records?

A minimum of seven years from the end of the relevant tax period for corporate tax and VAT purposes. AML records are kept for five years after the business relationship ends. Real estate and capital asset records can require longer.

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Dealing with the FTA · 5 answers

How do I contact the FTA?

Which channel depends entirely on what you need, and picking wrong is why people wait weeks.

  • Call centre 800 82923 — Monday to Saturday, 07:30 to 22:00. Good for navigation questions: which form, which deadline, what a screen means. No written record, so nothing you might need to rely on later.
  • EmaraTax, logged in — for anything about your own account: TRN corrections, amendments, refund delays, registration problems. Creates a timestamped record, which is the point.
  • info@tax.gov.ae — general questions and anything predating your registration. The FTA targets two business days.
  • Live chat and the Tara virtual assistant — 24/7 on tax.gov.ae, fastest for simple factual answers.
  • Taxpayer support centres in Abu Dhabi and Dubai — Monday to Friday, 07:30 to 15:30, by appointment, for document verification and complex cases.

Rule of thumb: the phone is for questions, the portal is for actions. Anything that could end in a dispute goes in writing.

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What is a Private Clarification and what does it cost?

A written ruling from the FTA on your specific facts, for when you have read the law and the guidance and the answer is still genuinely unclear. AED 1,500 for a single tax, AED 2,250 where more than one tax is involved. The FTA takes up to 60 business days from a complete application, and the clock restarts if it asks for more information.

Submitted through EmaraTax by you, a registered tax agent, or a legal representative — an unregistered consultant cannot file it for you. You need the contracts, invoices and payment records behind the question, plus a letter setting out the facts and the legal issue. The FTA will not clarify a matter already under audit or assessment, and will not rule on the General Anti-Abuse Rule.

Worth the fee when a recurring treatment is at stake and the exposure over a few years exceeds it. Not worth it for a one-off transaction already completed.

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How do I challenge an FTA penalty or decision?

Three stages, each with its own deadline.

  1. Reconsideration request — within 40 business days of the decision, submitted through EmaraTax. Free. The FTA reviews within 45 business days and notifies you within 5 business days of issuing its decision.
  2. Tax Disputes Resolution Committee at the Ministry of Justice, if the outcome is unsatisfactory or the FTA does not decide in time. The Committee issues a verdict within 20 business days, extendable by a further 20.
  3. The courts, which either side can appeal to after the Committee.

Three practical points, in order of how often they catch people out. You must pay the tax and penalties before objecting to the Committee — the dispute does not suspend collection. The FTA can require documents in Arabic, so budget for translation. And a reconsideration is for a decision: a penalty, an assessment, a refusal. General complaints go through the ordinary channels and do not start the 40-day clock.

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Do I need a registered tax agent?

Not for ordinary filing — you can register, file and pay yourself through EmaraTax. A registered tax agent is needed where someone else acts for you formally: submitting a Private Clarification on your behalf, filing a reconsideration, or representing you in an audit. An accountant who is not on the FTA's tax agent register can prepare everything but cannot be the filing party.

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What are the FTA awareness sessions?

Free training the FTA runs on tax legislation, mostly virtual, published on tax.gov.ae. Nearly 34,000 people attended in the first half of 2026. Useful if you are implementing a change yourself, because you get the Authority's own reading rather than a secondhand one. Attendance carries no legal weight and is not a defence to a penalty — for that you need a Private Clarification.

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Inventory · 6 answers

Which inventory system should I use?

Zoho Inventory and QuickBooks handle straightforward trading and retail. Tally remains strong for high-volume distribution. Odoo suits businesses that need manufacturing or assembly alongside stock. SAP Business One and Dynamics come in where multi-entity or production costing is involved. Volume, number of SKUs and whether you manufacture are the deciding factors.

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Do you physically count the stock?

We design the count procedure, supervise it, and investigate the variances. Physically handling and counting items is normally done by your own warehouse team under our observation — that is how auditors expect it to be evidenced.

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FIFO or weighted average?

Weighted average is simpler to maintain and suits businesses buying the same items repeatedly at varying prices. FIFO gives a closing stock value closer to current cost and is preferred where items are identifiable or perishable. IFRS permits both; what it does not permit is switching between them to suit the result.

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How does inventory affect my corporate tax?

Directly. Closing stock reduces cost of sales, which increases taxable profit. An overstated stock figure inflates your tax bill; an understated one creates an exposure if the FTA reviews it. Either way, the figure must be supportable by a count and a consistent costing basis.

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Can inventory integrate with my accounts?

It should, and in most modern platforms it does natively. Where a separate warehouse system is in use we build the reconciliation and post the monthly movement into the ledger. What we do not accept is a stock system whose closing value nobody ever agrees to the balance sheet.

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Will you train our warehouse staff?

Yes. Goods receipt, transfer and issue discipline is where most stock accuracy is won or lost, and the people doing it are rarely the people who bought the software. Training is delivered on your own system with written procedures.

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Payroll & WPS · 7 answers

What is the Wage Protection System?

An electronic transfer system operated through the UAE Central Bank and MOHRE that records salary payments from employer to employee through approved agents. Employers generate a Salary Information File in a prescribed format, the bank processes it, and MOHRE monitors whether wages were paid in full and on time.

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When exactly must salaries be paid now?

By the first day of the month following the wage period. The previous fifteen-day grace period was removed by Ministerial Resolution No. 340 of 2026, effective June 2026. Automated monitoring begins on day two.

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Do free zone companies have to use WPS?

It depends on the free zone. DIFC and ADGM are generally outside the MOHRE regime and operate their own employment rules. IFZA, DMCC, JAFZA, RAKEZ and most others fall within it or operate an equivalent requirement. Confirm with your zone — assuming exemption is a common and expensive mistake.

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What happens if we pay late?

Day 2 brings automated alerts. Day 5 can bring suspension of new work permits and a formal warning. Day 11 brings administrative fines and reclassification to a lower compliance category. Day 16 opens labour dispute procedures. Day 21 can escalate to legal proceedings, asset attachment, travel restrictions and referral for prosecution.

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How is gratuity calculated?

End-of-service benefit is based on basic salary and length of service, with different accrual rates before and after five years, and different treatment for resignation against termination under the current labour law. We calculate it monthly as an accrual so the liability is visible in your accounts rather than arriving as a shock when someone leaves.

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Is payroll included in your packages?

The Growth package includes payroll and WPS for up to fifteen employees. The Accelerate package covers unlimited employees. Standalone processing is AED 50 per employee per month after a setup fee from AED 1,000.

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When are salaries due in the UAE now?

By the first day of the month following the wage period. Ministerial Resolution No. 340 of 2026 removed the previous fifteen-day grace period with effect from June 2026, and automated monitoring begins on day two.

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Software · 7 answers

Which accounting software is best for a UAE SME?

There is no single answer, and any firm that gives you one without asking about your volume, your inventory and your invoicing is selling something. Zoho Books and QuickBooks Online suit most service businesses under a few hundred transactions a month. Xero handles multi-currency well. Tally remains strong where inventory and trading dominate. Sage, SAP, Oracle and Dynamics come into play at scale or where manufacturing costing matters.

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Will I lose data in a migration?

Not if it is done properly. We migrate opening balances and transaction history, reconcile the new system back to the old one line by line, and run both in parallel until the numbers agree. The old system stays accessible until you are satisfied.

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How long does an implementation take?

A clean setup for a small service company takes one to two weeks. A migration with two or three years of history, inventory and multi-currency runs four to eight weeks. The variable is almost always the state of the data you are migrating from.

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Do you sell the software licences?

No. You buy your own licence directly from the vendor, in your own name, and you keep control of it. We take no reseller margin, which is the only way our recommendation is worth anything.

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Is my current system ready for e-invoicing?

Most cloud platforms are building PINT AE support; most on-premise and legacy systems are not. We run a readiness assessment against the 51 mandatory fields and the structured XML requirement, and tell you whether you need a replacement, a middleware bridge, or nothing at all.

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We already use Zoho Books. Can you check whether it is set up correctly?

Yes — that is exactly what the free Zoho Books Health Check does. We run around 24 checks across VAT treatment, duplicates, posting errors and audit trail, and send you a report of what we found. The first review costs nothing.

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Can you train staff who have never used accounting software?

Yes, and it is a large part of the work. Training is run on your own live data rather than a demo file, in sessions sized for the people doing the job, and it ends with a written procedure document so the knowledge survives staff turnover.

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Tax Planning · 7 answers

Is tax optimisation legal in the UAE?

Arranging your affairs within the law to minimise tax is legal. Misrepresenting facts, creating structures without genuine substance, or mispricing related-party transactions is not, and the general anti-abuse provisions in the corporate tax law exist precisely to unwind arrangements whose main purpose is obtaining a tax advantage. Everything we recommend is designed to be disclosed, not hidden.

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Does a free zone licence mean I pay 0%?

No. It means you may qualify for 0% on qualifying income if you meet every condition: adequate substance in the zone, audited IFRS financial statements, transfer pricing documentation, and non-qualifying revenue under the de minimis threshold. A mainland customer base or a virtual office arrangement will often break it.

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How much can you actually save me?

It depends entirely on your structure, and any firm quoting a percentage before seeing your accounts is guessing. The recurring wins we see are unclaimed input VAT, Small Business Relief taken or declined on the wrong basis, and expenses disallowed that were in fact deductible. Sometimes the honest answer is that your position is already optimal.

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What happens after Small Business Relief ends?

Relief now runs to tax periods ending on or before 31 December 2029, extended from 2026 by Ministerial Decision 131 of 2026. That buys three years, it does not remove the cliff: a company still relying on relief in 2029 faces its first real corporate tax bill in 2030. Businesses close to the AED 375,000 threshold should be pricing for 9% on the excess well before then.

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Do I need transfer pricing documentation?

If you transact with related parties or connected persons, arm's length pricing applies regardless of size. Formal local and master file documentation becomes mandatory above AED 200 million in revenue, but the arm's length obligation itself does not have a floor, and disclosure is required in the return.

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Can you get me a tax residency certificate?

Yes, where the entity or individual meets the conditions. It is usually needed to claim relief under one of the UAE's double taxation treaties, and the application is straightforward once substance and presence can be evidenced.

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Do I pay personal income tax in the UAE?

There is no personal income tax on salary in the UAE. Corporate tax can apply to a natural person conducting business activity where turnover from that activity exceeded AED 1 million in a calendar year — that is a business tax reaching an individual, not a salary tax.

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VAT · 8 answers

When must I register for VAT?

Registration is mandatory once your taxable supplies and imports exceed AED 375,000 in the previous twelve months, or when you expect to exceed that figure within the next thirty days. Voluntary registration is open from AED 187,500 and is often worth taking early if you carry recoverable input tax.

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Do free zone companies have to register?

Free zone status does not exempt you from VAT. Businesses in designated zones get specific treatment on certain goods movements, but the registration thresholds apply the same way. The distinction that matters is designated zone versus non-designated, and it is worth confirming before you assume either.

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I registered late. What happens now?

Late registration carries an administrative penalty, and output tax may be due on supplies made in the interim. The exposure is usually smaller if you approach the FTA than if the FTA approaches you — voluntary disclosure runs at 1% a month against 15% for an FTA-discovered error. Bring us the dates and we will quantify it before you decide.

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How often do I file?

Most businesses file quarterly. The FTA assigns monthly periods to larger taxpayers. Either way the return is due 28 days after the period closes — 28 April, 28 July, 28 October and 28 January for standard quarterly filers.

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What input VAT can I not reclaim?

The common blocks are entertainment provided to non-employees, and motor vehicles available for personal use. Employee-related costs are more nuanced than most businesses assume, and under-claiming is at least as common as over-claiming in the files we review.

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Can you deregister me?

Yes. Deregistration is required when you stop making taxable supplies, and available when supplies fall below AED 187,500 over twelve months. It carries its own deadline and its own penalty for missing it, so it is not something to leave sitting.

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What is the VAT rate in the UAE?

5% standard rate. Certain supplies are zero-rated — exports outside the GCC implementing states, international transport, some healthcare and education, and the first supply of new residential property. Others are exempt, including most local passenger transport, bare land and some financial services. Zero-rated and exempt are not the same thing: zero-rated supplies allow input tax recovery, exempt supplies do not.

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What must a tax invoice contain?

The words 'Tax Invoice', your name, address and TRN, the customer's name and address (and TRN where they are registered), a sequential invoice number, the date of issue and the date of supply if different, a description of the goods or services, the unit price and quantity, the amount excluding tax, the tax rate and amount in dirhams, and the gross total. Missing fields are one of the most common findings in an FTA review.

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Working with us · 4 answers

What does it cost to work with you?

Four monthly packages: Essential at AED 1,000 for up to 150 entries a month, Growth at AED 2,000 for up to 500, Accelerate at AED 3,000 for up to 1,000, and Enterprise quoted on workload above that. All exclude 5% VAT, and annual payment gives two months free. Companies incorporated within the last two years can take an annual plan instead: Scale at AED 5,000 a year for 500 entries, or Strategic at AED 7,000 for 1,000 — those allowances run across the whole year, not per month. If you are moving from another accountant, three months of a monthly package are free: your 4th, 8th and 12th. One-off work — VAT registration AED 500, corporate tax registration AED 500, returns from AED 500 under Small Business Relief — is published on the packages page.

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How quickly can you start?

Onboarding takes five working days from the signed proposal: documents collected, chart of accounts set up or cleaned, software configured, reporting date agreed. Urgent filing deadlines are handled in parallel rather than waiting for onboarding to finish.

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Do you work with companies outside Dubai?

Clients across all seven emirates and in DMCC, IFZA, JAFZA, RAKEZ, SHAMS, ADGM and DIFC. Most work is remote; on-site visits happen where the job requires it — stock counts and audit fieldwork in particular.

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What documents do you need to start?

Trade licence, Memorandum of Association, Emirates ID and passport copies for the owners, bank statements for the period, any prior tax filings, and your existing accounting file if one exists. A checklist follows the first call.

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e-Invoicing · 2 answers

When does UAE e-invoicing become mandatory for me?

The pilot phase started 1 July 2026. Businesses with revenue of AED 50 million or more go live on 1 January 2027, having appointed an Accredited Service Provider by 31 July 2026. Businesses under AED 50 million must appoint a provider by 31 March 2027 and go live on 1 July 2027. Government entities follow on 1 October 2027.

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What is the penalty for not implementing e-invoicing?

Around AED 5,000 a month for non-implementation, plus AED 100 per non-compliant invoice. Given transaction volumes, the per-invoice penalty is usually the larger exposure.

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Some questions need your actual numbers

A general answer only goes so far. Book thirty free minutes and get one that applies to your licence, your year end and your figures.

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